Ukraine confirms it will ban wheat exports

Ukraine confirms it will ban wheat exports

• The announcement was not unexpected, however it did have a slight initial effect on the global wheat markets.

The Ukrainian government has confirmed the country will ban grain exports beginning Nov. 15 to preserve domestic supplies following a year plagued by weather problems. The announcement was not unexpected, however it did have a slight initial effect on the global wheat markets.

The United States has also suffered from a drought this year but maintains adequate supplies of wheat for domestic consumption and export.

The U.S. Constitution prohibits similar export bans.

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